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ATTACHMENT F <br />CITY OF SEATTLE - CITY LIGHT DEPARTMENT <br />TEMPORARY PERMIT <br />P.M. #230415-I-417 <br />THIS PERMIT is issued by THE CITY OF SEATTLE, a Washington Municipal Corporation <br />acting through its CITY LIGHT DEPARTMENT ("City"), to STEVE PETERSON (PETERSON <br />76) ("Permittee"), for temporary use of a portion of the City's fee -owned transmission line <br />corridor property ("Premises") described as follows: <br />Permitted Area: <br />That portion of the City of Seattle, City Light Department Fee Owned Property located in <br />the Northeast quarter of Section 15, Township 23 -North, Range 4 -East, W.M., as described <br />on "Exhibit A" and generally depicted on "Exhibit B" attached hereto and by this reference <br />incorporated herein. Total of approximately 3,740 square feet. <br />TERMS AND CONDITIONS <br />1. Use. Permittee's temporary use of the Premises shall be as follows: Drive aisle, one 12 <br />foot by 5 foot sign not to exceed 18 feet in height, and landscaping. Improvements not to exceed <br />the approved construction plans "Peterson's 76 Station" dated 09/22/2016. <br />2. Term. The term of this Permit shall begin on January 1, 2018, and shall continue on a <br />month-to-month basis until December 31, 2020, or until cancelled by either party as provided in <br />Section 23 herein, whichever occurs first. The term may be extended by mutual written <br />agreement of the Parties through amendment to this Permit. <br />3. Rent. The Permittee agrees to pay the following fees for its temporary use of the Premises <br />as above stated: <br />a. Initial Base Rent. The initial base rent for the Premises shall be Four Thousand Four <br />Hundred Eighty -Eight Dollars ($4,488.00) per year, payable in advance. <br />b. Leasehold Excise Tax. Permittee shall pay leasehold excise tax, levied by the State of <br />Washington in the amount of 12.84% of the monthly base rent, or at any revised rate as <br />may be established by law, with the rent. At the initial rent of $4,488.00, the leasehold <br />excise tax amounts to Five Hundred Seventy -Six Dollars and Twenty -Six Cents <br />($576.26) per year. <br />The total initial annual rent including leasehold excise tax is Five Thousand Sixty -Four <br />Dollars and Twenty -Six Cents ($677.04). <br />c. Base Rent Review and Adjustment. The base rent shall be reviewed and adjusted on <br />December 31, 2020 and every three (3) years on December 1" thereafter should the term <br />be extended by written amendment to this Permit. Adjustments to the base rent will be <br />based on the fair market value of the underlying land and the City's expected rate of <br />return. Under no circumstances will the base rent be decreased. <br />d. Base Rent Annual ion.. The Base Rent for this Permit shall increase 3% per year <br />beginning January 1, 2019 and every January 15t thereafter. For example, base rent plus <br />leasehold excise tax for the years 2019 and 2020 is calculated as follows: <br />January 2019 $4,622.64 + $593.55 = $5,216.19 (Rent + Excise Tax) <br />January 2020 $4,761.32 + $611.35 = $5,372.67 (Rent + Excise Tax) <br />59 <br />